Insurance and Financial Services (As % of Service Imports, BoP) in Belarus

Source: World Bank
Last Updated: January 1, 2021

Insurance and financial services as a percentage of service imports from the balance of payment reached 5.65 % in 2018 in Belarus, according to the National Central Bank / OECD. This is 21.7 % more than in the previous year.

Historically, insurance and financial services as a percentage of service imports from the balance of payment in Belarus reached an all time high of 11.3 % in 1993 and an all time low of 0.837 % in 2003. When compared to Belarus's main peers, insurance and financial services as a percentage of service imports from the balance of payment in Lithuania amounted to 3.50 %, 4.09 % in Poland, 3.00 % in Russia and 4.12 % in Ukraine in 2018.

Belarus has been ranked 83rd within the group of 158 countries we follow in terms of insurance and financial services as a percentage of service imports from the balance of payment, 3 places above the position seen 10 years ago.

Insurance and financial services (% of service imports, BoP) cover various types of insurance provided to residents by non-resident insurance enterprises and vice versa, and financial intermediary and auxiliary services (except those of insurance enterprises and pension funds) exchanged between residents and non-residents.

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